Oyo, the Indian budget-hotel chain startup, is finalizing a fresh fundraise of about $100 million to $125 million that slashes its valuation to $2.5 billion, two people familiar with the matter told TechCrunch. That’s a steep decline in the Gurgaon-headquartered startup’s value, which was worth $10 billion in 2019. The startup was once operational in dozens of markets, including the U.S. and Europe, but has since curbed its international play.
Oyo, the Indian budget-hotel chain startup, is finalizing a fresh fundraise of about $100 million to $125 million that slashes its valuation to $2.5 billion, two people familiar with the matter told TechCrunch. That’s a steep decline in the Gurgaon-headquartered startup’s value, which was worth $10 billion in 2019. The startup was once operational in dozens of markets, including the U.S. and Europe, but has since curbed its international play.